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Rail News: Financials

FreightCar America registers record sales, reduces backlog


FreightCar America Inc. ended 2006 on a high note. The rail-car builder rang up fourth-quarter sales of $390.8 million, a 46 percent increase compared with fourth-quarter 2005. The period’s sales helped the company set an annual sales record at $1.4 billion, a 56 percent increase compared with 2005.

During the quarter, car orders totaled 2,199 units compared with 357 units in third-quarter 2006 and 5,035 units in fourth-quarter 2005.

The company also continued to chip away at its backlog, which totaled 9,315 units on Dec. 31 compared with 12,176 units on Sept. 20, 2006, and 20,729 units on Dec. 31, 2005.

In addition, FreightCar America’s quarterly net income totaled $34 million, a 93 percent increase compared with fourth-quarter 2005. For the year, net income rose more than 260 percent to $128.7 million.

FreightCar America builds coal, flat, intermodal and coil steel cars; steel hoppers; mill gondolas; and motor vehicle carriers.

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